UK Supreme Court Rules Against Government Intervention in Motor Finance Case, Bank Stocks Plummet
2025-02-17
Reuters
The UK Supreme Court has rejected a bid by finance minister Rachel Reeves to intervene in a high-profile case regarding car loan mis-selling, resulting in a significant decline in shares of major lenders, including Close Brothers and Lloyds Banking Group. This landmark decision is expected to have far-reaching implications for the motor finance industry, with potential consequences for consumer protection and financial regulation. The case highlights the importance of responsible lending practices and the need for greater transparency in financial transactions, sparking concerns among investors and industry stakeholders. Key terms: motor finance, car loan mis-selling, financial regulation
